ImageOffice Insurance Policy – Buy Commercial Office Space Insurance Policy

Office Insurance

Premium Starts @ 350

(Excluding Taxes)

Premium Starts @ 350 excluding Taxes
Cover fire insurance and natural catastrophes such as flood and earthquake
Get quotes from leading insurers such as HDFC Ergo, New India, Bajaj Allianz, and Iffco Tokio
Buy all risk insurance policy for electronic equipment
Add-on special covers for burglary and theft
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assistance1Online policy copy
assistance2Instant risk confirmation
assistance3Experienced medico-legal panel
assistance4 Single point interface for claims
assistance5Renewal reminders
assistance6 Digital proposal form and payment

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Table of Contents

  • > SecureNow Assistance
  • > Quick Guide to Office Insurance Policy
  • > Frequently Asked Questions
  • > Insuropedia

SecureNow Assistance


Online policy copy

Policy copy will be emailed. This can also be accessed via login


Instant risk confirmation

Risk coverage gets started immediately on proposal form submission, if no claim has been reported.


Experienced medico-legal panel

High quality lawyers, with experience of medical negligence cases, take-up cases on Doctor’ behalf


Single point interface for claims

Dedicated liability claims expert coordinates claims between the Doctor, lawyer and the insurer


Timely renewal reminders

Automated reminders and sent 3 weeks before renewal. Premium can be easily paid online


Digital proposal form and payment

Buying process is completely digitized including supporting documents. No need to submit hard copies.

Quick Guide to Office Insurance Policy

What is Commercial Office Space Insurance?

A Commercial Office Space Insurance is a policy that protects an office and its contents. An office insurance policy can cover against fire, natural calamities such as floods and earthquakes, and many named and unnamed perils. Office insurances are also designed to cover for burglary.

With such an insurance policy your office is protected from a lot of damages such as: third-party liabilities, misuse of office data, damage to fixed assets, loss of items of employees and other financial risks.

How Office Insurance Policy Functions?

Office insurance policy is a simple policy and below is how it functions:

  • Anyone who is interested writes to us about the details of the property and their interest in obtaining an office insurance policy. The insured has to give us a sum assured value.
  • We then take your details and requirements to procure the best quotes for you.
  • You can finalize the quotation from an insurer and we proceed with the same.
  • The insured pays the premium and the policy is placed. The coverage starts as soon as the payment is made.
  • The insured also gets a free look period of 15-30 days (depending on the insurer) to decide on to keep or cancel the policy.
  • In case of any adversity where a claim arises, the insured has to inform about the same as soon as possible and share relevant claim documents.
  • The insurer then appoints a surveyor, based on whose reports the claim is processed.
  • Both the insured and the insurer have the right to deny each other's decision on the claim. So, the insurer can reject claims based on correct grounds while the insured also holds all right to fight back the same in a court of law.

Salient Features of Office Insurance Policy

The key features of office insurance policy are as below:

  • Package Policy: Single property insurance policy can cover all types of commercial assets including building, furniture, fittings and fixtures, electrical and electronic equipment, laptops and mechanical equipment.
  • Customized Cover: Apart from basic commercial office insurance coverage such as fire insurance, you can opt for add-on covers like burglary, theft, earthquake, electronic equipment insurance, and laptop insurance.
  • Add-Ons: Policy can have several add-ons such as escalation clause, omission to insure, damage due to own cranes, and rent for alternative accomodation in the event the property cannot be used due to a claim.
  • Easy Documentation: Getting office insurance is easy. The sum assured for fire needs to be self declared. Details are needed only for laptop all risk insurance where the make, model and serial number are required.

What is covered and what is not covered under Office Insurance Policy?

Office property insurance covers all your assets from various risks & perils such as Fire, lightning, riot, strike, malicious damage, mechanical & electronic breakdown, burglary, storm, tempest, flood and inundation. There are add on coverage such as earthquake, terrorism, theft and rent for alternative accommodation which can also be covered in the property insurance.

Office property insurance policy does not cover normal wear and tear due to deterioration, intentional damage to the property, damage to the property due to war, illegal activity or pollution. Also, the common exclusions in office fire insurance policy also includes damages due to radioactive contamination and pollution or contamination losses.

Benefits of Office Insurance Policy

Below are the benefits of office insurance policy:

Variety of Risks Covered

  • The office property insurance policy covers the loss or damage caused from fire, lightning strike, natural catastrophes and other specified perils such as impact damage or leakage due to bursting of pipes.
  • Electrical and electronic equipment can be covered for mechanical breakdown and short circuit.
  • Portable equipment such as laptops can be covered for theft during transit.

Insurance at Reinstatement Value

  • Insurance policy would reimburse the cost of reinstating the asset to its condition prior to loss. Depreciation charge is not deducted if the reinstatement value clause is applied.
  • By default claims in fire insurance policies are settled based on market value i.e., after deduction of depreciation.
  • Under the reinstatement clause, property has to be reconstructed to be eligible for the claim.

Consequential Loss Cover

  • Select subsequent losses arising from a covered peril insured under the policy could also be indemnified. For example, rent for an alternative accommodation during the reinstatement period.
  • Under Fire Loss of Profits (FLOP), loss of profits during the reconstruction period is covered.
  • Gross profit or Net Profit + Standing expenses, is considered for FLOP Insurance.

Types of Office Insurance Policy

There are three types of office insurance policies:

  • Option 1: coverage for only content of the office
  • Option 2: coverage for office premises and its contents
  • Option 3: coverage for the office premises, content of the office and also the valuables (such as cash, equipment and so on)

How to Buy Office Insurance Policy / Commercial Office Space Insurance Policy?

It is easy to buy a commercial office space insurance policy with SecureNow. You can just fill the form provided above with your basic contact details. An office insurance expert will get in touch with you to collect your requirements. After understanding your requirements fully, we’ll share competitive quotations with you. The SecureNow team will assist you in the whole process starting from procuring the insurance, policy placements and renewals to claim settlements. Additionally, you can also drop us an email at support@securenow.inand an insurance expert will get in touch with you soon.

Documents Required for Office Insurance Policy

Below are the documents required for office insurance policy claim process:

  • duly filled claim form
  • FIR
  • fire brigade report
  • final investigation report
  • invoice copy of the damaged asset
  • forensic laboratory report (if any)
  • estimated cost of repair or lost product

In addition to these documents, the insurer can ask for some additional documents based on the type of claim.

How to file a claim under Office Insurance Policy?

In case of a claim, you need to first intimate your risk manager as soon as possible about the incident. Our claim team will inform the insurer and get a surveyor appointed who would visit the accident site to conduct a survey. You would then need to submit a claim form, invoices and other documents required by the insurance company within the allowed time limit. Before the surveyor inspects the loss, you should not initiate repairs. You should try to minimize the loss, inform local authorities, and take pictures of the loss. SecureNow will assist you in each step of your claim process.

Frequently Asked Questions

Office insurance policy covers for the office premises, the content and the valuables from fire, natural calamities, burglary and a lot of named and unnamed perils. Any damage or loss to the office can eat out of your profit, so as a business owner you can use such insurance to protect your finances. Another instance can be, if you have rented properties for your business purpose and if any unforeseen circumstances happen then you’ll be able to bear the consequential loss as an office insurance pays for renters also.
Any company which has assets on its name should take office property insurance. We have clients ranging from small firms, SMEs, MNCs, NGOs, government companies, IT firms, etc. It is important for every company, irrespective of the size of their business, to cover their assets and buy insurance to safeguard from various risks such as fire, burglary, theft, natural calamities, etc.
Office insurance policy is not a mandatory policy in India. But it is always advisable to have a commercial office insurance policy that can protect your office and its content from named and unnamed perils. A policy as such costs much below 1% but the benefits in the long-run are impeccable.

What Is Reinstatement Value Clause in Office Insurance Policy?

Reinstatement Value Clause (RVC), defines the terms and conditions of payment of reinstatement claims under property insurance policies. It defines the reinstatement value that will be payable after the loss. And the conditions under which this value may be altered even after the claim has been accepted by the insurer. So, what is Reinstatement Value Clause in Office Insurance Policy?...

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What Is Tenants Legal Liability Under Office Insurance?

Many businesses rent the premises and assets on the premise to operate the office. In the case of a burglary, fire or another incident, both assets belonging to the owner of the premise and tenant, can be damaged. In the case of damage to the owner’s assets (used by the tenant), the liability falls on the tenant.

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How Is the Loss of Profit Claims Settled Under Office Insurance Policy?

Loss of profit is based on the premise that the business is interrupted due to a covered peril. The Loss of profit claims under Office Insurance covers the following types of losses:

  • Loss of revenue
  • Excess cost of operations due to the insured peril
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